Highway Infrastructure (HIL) has received markets regulator Securities and Exchange Board of India’s (SEBI) clearance to raise funds through initial public offering (IPO). The company’s IPO is a combination of fresh issuance of equity shares worth Rs 105 crore, and an offer-for-sale (OFS) of 31 lakh equity shares by promoters.
The company will utilise proceeds from the fresh issue towards working capital requirements, and general corporate purposes. The equity shares are proposed to be listed on the NSE and the BSE.
HIL is an infrastructure development and management company. The company is engaged in the business of tollway collection, infrastructure development and management and real estate business.
